In June 2026, China's refined nickel imports were 25,691 mt, down 15% MoM and up 51% YoY; exports were 1,811 mt, down 82% MoM and down 82% YoY; net imports were 23,879 mt, bringing cumulative net imports for the year to 137,000 mt.
On the import side, Russia and Indonesia were the dominant suppliers. Russian refined nickel imports amounted to 7,048.77 mt, accounting for 27.44% of total imports and ranking first; Indonesian refined nickel imports reached 6,734.48 mt, for a 26.21% share. Additional supply came from Norway (2,366.40 mt, 9.21%), South Africa (1,375.00 mt, 5.35%), Japan (969.71 mt), and Australia (900 mt), mostly consisting of long-term contract shipments fulfilling rigid demand from downstream specific alloy and precision manufacturing sectors.
On the export side, the Netherlands was the largest destination, with exports of 705.29 mt accounting for 38.94% of total exports, primarily driven by delivery and European warehousing transit demand. Among neighboring Asian countries, India (501.20 mt, 27.67%) and Singapore (401.24 mt, 22.15%) ranked second and third, respectively. Together, the top three destinations accounted for close to 89% of total exports.
